RE:Insiders continue to buyLongRoad wrote: Filed at sedi.ca today.
Bassam Moubarak purchased 58,500 shares at $2.19 today.
These guys are transparent and have told the market what will happen and how they will profit from it, yet the majority of traders don't believe them. Thus, the very wide arbitrage.
Investors believe them, but they also know that LIX management doesn't control the process, the Chinese financiers do. Anyone who has experience on the selling end of a Chinese deal knows that risk of not closing is elevated. Current price means investors are adamant that there will be an extension, then a possible repricing, hence the current discount. Hopefully though, all is well and it closes according to the terms.